Aurubis CEO says its metals play vital role

At its early April annual general meeting, the CEO of Germany-based nonferrous metals producer Aurubis AG said the company’s products—many of them made with recycled content—are of strategic importance to the European and global economies.

The company, which focuses predominantly on the recycling and production of copper, also says it is beginning to earn a return on recent investments in Europe and the United States.

In his speech at the meeting, Aurubis CEO Toralf Haag said, “Aurubis’ metals are central components in future technologies — they are the key to the energy and mobility shift. Every smartphone, laptop and artificial intelligence (AI) data center uses a number of our metals. Our products promote growth and progress and significantly contribute to Europe’s independence and stability.”

Regarding capital expenditures in plant and equipment that comprise the Aurubis “Driving Sustainable Growth” strategy, the company says it has completed about 60 percent of the approved investments (totaling $1.87 billion) tied to the projects.

“Aurubis is securing its core business, consistently leveraging growth opportunities, and further expanding its leadership role in sustainability,” states the company.

In Europe, the company has installed new equipment to process metal-bearing anode slimes at an existing facility in Beerse, Belgium, and hydrometallurgical technology to yield greater recovery of nickel and copper from electrolyte materials.

The firm says the Belgian investments are designed “to increase the efficiency and sustainability of the recycling processes at Aurubis to reclaim even more valuable metals,” calling it part of the company‘s “significant contribution to a functioning circular economy.”

In the past fiscal year, the firm says more efficient and hydrogen-ready anode furnaces were installed in Hamburg, while at a Bulgarian site the company currently is quadrupling the capacity of its solar park.

In the U.S., the Aurubis Richmond facility near Savannah, Georgia, is ramping up. When completed, It will recycle scrap of varying qualities, including end-of-life electronics and cable, with an ability process up to 180,000 tons of what Aurubis calls “complex recycling materials” when at full capacity. 

“With our ambitious growth course, we are well on our way to being the most efficient and sustainable smelter network in the world,” says Haag. “We are ideally positioned with our unique business model and are constantly moving forward.”

Also at the annual general meeting, Aurubis shareholders approved a 1.50 euros ($1.65) per share dividend payout for the 2023-2024 fiscal year. The figure is about 7 percent higher compared with the dividend from the previous fiscal year.

Says Haag, “With the higher dividend, our shareholders are fairly participating in the company’s success. Aurubis anticipates operating earnings before taxes of 300 million to 400 million euros ($330 million to $440 million) and a return on capital employed of between 7 percent and 11 percent for the 2024-2025 fiscal year.”